Kforce (NASDAQ:KFRC) Hits New 52-Week Low – What’s Next?

Kforce Inc. (NASDAQ:KFRC) hit a new 52-week low on Thursday . The stock traded as low as $52.74 and last traded at $52.87, with a volume of 41776 shares changing hands. The stock had previously closed at $53.80.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KFRC shares. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th. Truist Financial lowered their price objective on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Kforce Trading Down 1.4 %

The firm has a 50-day simple moving average of $57.00 and a 200-day simple moving average of $59.85. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market cap of $986.00 million, a PE ratio of 19.28 and a beta of 0.88.

Kforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.56 annualized dividend and a yield of 3.02%. This is an increase from Kforce’s previous quarterly dividend of $0.38. Kforce’s dividend payout ratio (DPR) is currently 56.72%.

Institutional Investors Weigh In On Kforce

Several hedge funds and other institutional investors have recently modified their holdings of KFRC. Kathleen S. Wright Associates Inc. bought a new position in shares of Kforce in the third quarter valued at approximately $30,000. TD Private Client Wealth LLC lifted its stake in Kforce by 58.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock worth $30,000 after purchasing an additional 182 shares in the last quarter. Blue Trust Inc. boosted its holdings in Kforce by 259.5% in the 3rd quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 1,108 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Kforce by 23.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 485 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Kforce by 197.3% in the third quarter. Advisors Asset Management Inc. now owns 2,396 shares of the business services provider’s stock worth $147,000 after purchasing an additional 1,590 shares during the period. 92.77% of the stock is currently owned by institutional investors.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.